Sabra Healthcare REIT Inc. (SBRA) PT Raised to $15 at Scotiabank

Scotiabank analyst Nicholas Yulico raised the price target on Sabra Healthcare REIT Inc. (NASDAQ: SBRA) to $15.00 (from $14.00) while maintaining a Sector Perform rating.

The analyst commented: "Maintained guidance assumes FY24 norm. FFOPS growth of ~5% y/y. Rent coverage metrics improved q/q (ex-Provider Relief Funds) and Seniors Housing Managed segment results remained stable. Segment RevPOR growth was +3.4% (+4.0% Q4) and same store occupancy rose +190bp y/y in Q1 (+220bp per NIC’s U.S. Seniors Housing data; +130bp Q4). Our 2024/2025 FFOPS estimates are now $1.37/$1.43 (from $1.36/$1.41). Our 2024/2025 AFFOPS estimates are now $1.40/$1.46 (from $1.38/$1.44). Raising our target price to $15.00 per share (from $14.00) and is based on 11.0x 2024E AFFOPS multiple (vs. 10.0x previously)."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• LG Electronics India (LGEL:IN) PT Raised to INR1,815 at ICICI Securities
• New Street Research Upgrades Micron Technology (MU) to Buy